Tax the Second Homes of the Ultra Wealthy to Fund Affordable Housing
We cannot afford to live in Boston.
A recent survey published in Boston Globe found that 1 in 2 residents are considering leaving, as young innovators and families are priced out of our community.
Feasible solutions exist.
While the Boston mayor slashes funding for the arts, youth jobs, and public health, NYC’s Mayor Zohran Mamdani has successfully advocated for a pied-à-terre tax on the second homes of billionaires.
This tax would require the ultra-wealthy who own a second home in the city valued over $5 million to contribute their fair share for the community as a whole. For these ultra wealthy individuals, whose primary residence is not even in the city where they own this property, this money means nothing to them. Yet, this tax will bring in revenue to make generational investments for childcare and affordable housing.
The ultra wealthy have more money than they can spent in 10,000 lifetimes.
The average working family in Boston lives paycheck to paycheck.
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